In Spain, a community of owner or (Comunidad de Propietarios) is covered by law in article 396 of the Civil Act, where these type of properties are by character known as Horizontal Properties or (Propiedad Horizontal). Horizontal Property in particular is
In the course of the past 18 months, the price per kw of electricity has gone up over 20%. While many owners have taken advantage of the several deals available from Endesa or other companies, including installations of ICPs, most communities have not.
As of the beginning of this summer (1 July 2011), presidents of communities can get a mortgage for their community. Up until now the law required that any mortgage that was taken out by a community required the signature of all the owners.
The global trend in property as towns grow, has turned many villas or individual houses into apartment blocks of all sizes; and many farming lands are converted into larger urbanizations housing private villas. Many of these apartment blocks are no more than 4 to 10 owners and vary from 2 to 5 floors. In Spain in many cases all the owners agree with their shares of the cleaning and maintenance and as such it is not always necessary to register the entity as a “Community of Property Owners” (Comunidad de Propietarios). However it is always advisable to setup a Comunidad de Propietarios so as to provide a better managed and recorded history of the property and allow future owners to have a better understanding of how the community has developed in the past and provide better integration into their new neighbourhood.